Pakistan might remain on FATF list even after February

Pakistan may remain on the grey list of the Financial Action Task Force (FATF) beyond February 2020, mainly because of its risk profile and in view of two simultaneous evaluations according to senior officials. Officials also revealed that the government recovered only Rs5.6 billion in taxes on foreign assets worth about $7.4bn (Rs1.15 trillion) of Pakistanis reported by the international community under information exchange arrangements.

While some countries had been removed from the grey list after just 80 per cent compliance, Pakistan was being pressurised to ensure 100pc compliance with the action plan. “Pakistan is being viewed from a very high threshold; there is a political element to this,” minister Hammad Azhar said, adding that Afghanistan was not on the FATF grey list.

Source: Dawn